In 2024, steel companies will assess the real impact of CBAM on the industry

On June 12-13, Kallanish Europe Steel Markets will hold its annual conference in Milan, Italy, to discuss the global outlook for the steel industry in 2024.

The conference will focus on current investments to comply with strict European environmental regulations, including the recently introduced CBAM import carbon adjustment mechanism, as well as steel price trends, end-user demand and trade patterns.

Steelmakers are currently experiencing lower profitability due to higher than expected raw material costs and lower steel prices than in 2021-2022. After a decline in steel demand in European markets in 2023, it is expected to grow in the second half of 2024. Interest rates are likely to have peaked and their potential decline could boost European GDP growth and, consequently, steel demand.

In 2024, Europe may also reach an agreement on its trade relations with the United States.

Key topics of the conference:

• Dynamics of steel prices;
• Dynamics of prices for iron ore and scrap;
• Energy costs for production;
• The structure of demand in the main steel-consuming sectors;
• Implementation and impact of CBAM;
• Development of hydrogen steel smelting;
• Innovative technologies.

You can register for the event by link.

Source: https://gmk.center